Chicago-based investment research specialist Morningstar recently released its "Morningstar Direct Asset Flows Commentary: United States" report for all of 2017. As in past reports, Alina Lamy, senior analyst of quantitative research, penned the report. (An abridged verison of the report is publicly accessible, while the full report with appendices is available to Morningstar Direct users.)

This article digs into fund flows for the full 2017 calendar year. See our companion article for information on fund flows for December 2017.

Yet proportionately, 2017 was a very different story. At the head of the large fund firm pack was Guggenheim, which brought in estimated net inflows equivalent to 20.97 percent of its AUM. Other big winners included: Schwab, 18.35 percent; First Trust, 18.01 percent; BlackRock, 13.11 percent; and Pimco, 9.38 percent.